USDCAD – Price Action Squeeze Leads to Massive Breakout | Dec 17

USDCAD – Pre-Breakout Structure Leads to Massive Upside Move (1hr chart)In our members market commentary this Tuesday, we talked about the bullish price action on the USDCAD and expecting that a break of the resistance around 1.3775 would lead to an eventual test of the mid-1.39 handle.

This led to a massive upside move which tested 1.3945 in a hurry with many members catching this move and several hitting double digit +R trades. So congrats to the members who profited from this.

For now, the context remains bullish while above 1.3840 and 1.3750/75 on a daily closing basis. I’m raising my upside bar on the USDCAD and am expecting an eventual thrust through the ‘big figure’ at 1.40, potentially testing 1.45 in Q1 2016.

Want More? My private members get all my trade ideas & market commentary up to 3x per week.Click here to become a member.

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

NO FINANCIAL ADVICE - The Information on 2ndSkiesForex.com, and any correspondence from 2ndSkiesForex.com or contractors and/or employees of the site is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose.

The information contained in or provided from or through this site is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The information on this site and provided from or through this site is general in nature and is not specific to you the user or anyone else. YOU SHOULD NOT MAKE ANY DECISION, FINANCIAL, INVESTMENTS, TRADING OR OTHERWISE, BASED ON ANY OF THE INFORMATION PRESENTED ON THIS SITE WITHOUT UNDERTAKING INDEPENDENT DUE DILIGENCE AND CONSULTATION WITH A PROFESSIONAL BROKER OR COMPETENT FINANCIAL ADVISOR. You understand that you are using any and all information available on or through this site AT YOUR OWN RISK.

RISK STATEMENT - The trading of foreign currency, stocks, futures, commodities, index futures or any other securities has potential rewards, and it also has potential risks involved. Trading may not be suitable for all users of this website. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Need To Improve You Trading?

Sign up now to receive a free ebook on How to Get an Edge trading the Forex markets

Learn what it Means to Have an Edge

Learn what are the Key Moves in the Market

Discover an Intra-day Trading Tool For Precise Entries & Exits

As a bonus for signing up, you will also get exclusive access to our monthly newsletter, which contains insights not published on the website